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Department Of Post To Invest Rs 900 cr To Renovate 4,500 Post Offices
By ugesh sarkar, Section News
The Department of Post (DoP) would invest about Rs 900 crore to upgrade and renovate 4,500 post offices in the next six months under the third
phase of its Project Arrow. It is also evaluating the options of several tie-ups and joint ventures (JV) to make India Post a multi service organisation, minister of state for communication and information technology Jyotiraditya Scindia told re-porters here on Thursday. Mr Scindia said that at present the DoP does not have immediate plans to make India Post a complete finance service organisation on its own. India Post is, however, looking at several opportunities of JV and tie-ups. It has already tied up with the State Bank of India (SBI) for offering certain banking service which would be announced on a later date. "Our main task is to first strengthen the core business and then go to several verticals," Mr Scindia said. Auto loan, education loan and retail loan are the areas for which the DoP is looking for partners. Under the Project Arrow the government plans to renovate all the post offices in phases. All upgraded post offices would be fully computerised and would offer internet services also. In the first phase 50 post offices were upgraded at a cost of Rs 12.56 crore, while in the second phase 450 post offices were taken for upgradation and renovation at a cost of Rs 74 crore. Source: Economic Times Department Of Post To Invest Rs 900 cr To Renovate 4,500 Post Offices
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